2024-05-15T03:57:46-05:00 2023-06-30 221478099 COHNREZNICK LLP ONE BOSTON PLACE SUITE 500 BOSTON MA 02108 990 2022-07-01 275304295 CINCINNATI MUSEUMS FOUNDATION CINC 5132877000 1301 WESTERN AVE CINCINNATI OH 45203 JILL BERKEMEIER CFO 5132877000 2024-05-14 1 JILL BERKEMEIER 999009999 1 LORI ROTHE YOKOBOSKY CPA P01273422 6176481400 2024-05-02 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JILL BERKEMEIER 1301 WESTERN AVE CINCINNATI OH 45203 5484858 0 X N/A X 2011 OH TO PROVIDE FINANCIAL SUPPORT FOR THE BENEFIT OF CINCINNATI MUSEUM CENTER, NATIONAL UNDERGROUND RAILROAD FREEDOM CENTER AND ANY OTHER TAX EXEMPT, NONPROFIT ENTITY OF WHICH THE CINCINNATI MUSEUM CENTER IS THE SOLE MEMBER AND TO CONDUCT ANY ACTIVITIES CONSISTENT WITH SUCH PURPOSES. 11 8 0 8 0 0 1880466 857042 0 0 4512458 2188810 15120 0 6408044 3045852 1393040 1940455 0 0 0 0 0 0 0 71863 68969 1464903 2009424 4943141 1036428 53180452 56870348 464 464 53179988 56869884 X TO PROVIDE FINANCIAL SUPPORT FOR THE BENEFIT OF CINCINNATI MUSEUM CENTER, NATIONAL UNDERGROUND RAILROAD FREEDOM CENTER AND ANY OTHER TAX EXEMPT, NONPROFIT ENTITY OF WHICH THE CINCINNATI MUSEUM CENTER IS THE SOLE MEMBER AND TO CONDUCT ANY ACTIVITIES CONSISTENT WITH SUCH PURPOSES. 0 0 1940455 1940455 CINCINNATI MUSEUMS FOUNDATION PROVIDES CONTRIBUTIONS TO SUPPORT THE CINCINNATI MUSEUM CENTER AND THE NATIONAL UNDERGROUND RAILROAD FREEDOM CENTER. 1940455 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 8 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 OH X JILL BERKEMEIR 5132877000 1301 WESTERN AVE CINCINNATI OH 45203 ANNE DRACKETT THOMAS BOARD MEMBER 1.00 X 0 0 0 DAVID PHILLIPS BOARD MEMBER 1.00 X 0 0 0 ELIZABETH PIERCE CEO 2.00 43.00 X X 0 365098 55602 FRANCIE HILTZ BOARD MEMBER 1.00 X 0 0 0 JANE GARVEY CHAIRPERSON 1.00 2.00 X X 0 0 0 JILL BERKEMEIER CFO & TREASURER 2.00 43.00 X X 0 260000 14559 PETE STRANGE BOARD MEMBER 1.00 1.00 X 0 0 0 PHILLIP LONG BOARD MEMBER 1.00 X 0 0 0 ROBERT LINDNER JR BOARD MEMBER 1.00 X 0 0 0 SCOTT SCHUSTER PRESIDENT & SECRETARY 1.00 40.00 X X 0 195412 52439 SUSAN B ESLER EX OFFICIO 1.00 3.00 X 0 0 0 0 820510 122600 0 0 1 0 0 844368 12674 857042 2092005 2092005 2535811 2439006 96805 96805 96805 3045852 0 0 2188810 1940455 1940455 5689 5689 57786 57786 26 26 5268 5268 LICENSE, PERMITS ,TAXES 200 200 2009424 1940455 68969 0 15769 17263 1511155 1545920 51653528 55307165 53180452 56870348 464 464 464 464 X 28480788 30793475 24699200 26076409 53179988 56869884 53180452 56870348 1036428 2653468 0 X 0 1 X 1 0 X X X 2 CINCINNATI MUSEUM CENTER 311212634 7 1 1506367 0 NATIONAL UNDERGROUND RAILROAD FREEDOM CENTER 311436217 7 1 434088 0 2 1940455 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 53179991 857041 4842280 1951637 57790 56869885 61693980 1880465 -8944669 1388854 60931 53179991 29523338 23533631 10281650 1591716 61924 61684979 29255629 931137 585553 1202723 46258 29523338 27281577 1519268 1635634 1121947 58903 29255629 0.54150 0.39140 0.06710 0 0 0 PUBLICLY TRADED SECURITIES POOLED WITH RELATED PARTY 51232400 F INTEREST IN PERPETUAL TRUSTS 4074765 F 55307165 DUE TO AFFILIATES 464 464 X 35618061 2653468 29918741 32572209 3045852 0 3045852 34915478 32906054 32906054 2009424 0 2009424 PART V, LINE 4: CINCINNATI MUSEUM FOUNDATION HAS A POLICY OF APPROPRIATING DISTRIBUTIONS EACH YEAR OF UP TO FIVE PERCENT OF ITS PREVIOUS THREE-YEAR AVERAGE ENDOWMENT FUND BALANCE. IN ESTABLISHING THIS POLICY, THE CORPORATION HAS CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. ACCORDINGLY, THIS SPENDING POLICY SHOULD, OVER TIME, PROTECT THE INFLATION-ADJUSTED VALUE OF THE ENDOWMENT AND, CONSEQUENTLY, ALLOW INFLATION-ADJUSTED SPENDING TO OCCUR IN THE DISTANT FUTURE. THIS IS CONSISTENT WITH THE CORPORATION'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS HELD IN PERPETUITY OR FOR A SPECIFIED TERM AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS AND INVESTMENT RETURN. PART X, LINE 2: FOR FEDERAL TAX PURPOSES, THE MUSEUM, HSR, FREEDOM CENTER, AND THE FOUNDATION ARE EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, UTC AND MMS ARE TAXABLE CORPORATIONS, AND UTLLC IS A PASS-THROUGH ENTITY AND IS NOT SUBJECT TO INCOME TAXES. THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") HAS ISSUED GUIDANCE WHICH CLARIFIES GENERALLY ACCEPTED ACCOUNTING PRINCIPLES FOR RECOGNITION, MEASUREMENT, PRESENTATION AND DISCLOSURE RELATING TO UNCERTAIN TAX POSITIONS. THIS GUIDANCE CLARIFIES THE ACCOUNTING AND RECOGNITION FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE CORPORATION'S INCOME TAX RETURNS. THE CORPORATION'S INCOME TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, TAX YEARS SINCE 2020 REMAIN OPEN. THE CORPORATION'S POLICY WITH REGARDS TO INTEREST AND PENALTIES IS TO RECOGNIZE INTEREST THROUGH INTEREST EXPENSE AND PENALTIES THROUGH OTHER EXPENSE. IN EVALUATING THE CORPORATION'S TAX PROVISION AND TAX-EXEMPT STATUS, INTERPRETATIONS AND TAX PLANNING STRATEGIES WERE CONSIDERED. THE CORPORATION BELIEVES THEIR ESTIMATES ARE APPROPRIATE BASED ON THE CURRENT FACTS AND CIRCUMSTANCES. REVENUES DERIVED FROM CERTAIN CATERING SERVICES PROVIDED BY THE MUSEUM AND FREEDOM CENTER, CERTAIN MUSEUM SHOP SALES AND ADVERTISING INCOME THAT ARE NOT SUBSTANTIALLY RELATED TO FURTHERING THE CORPORATION'S MISSION ARE CONSIDERED UNRELATED BUSINESS INCOME. TAXES ON UNRELATED BUSINESS INCOME ARE PAID IN ACCORDANCE WITH THE INTERNAL REVENUE CODE. NO ACCRUAL HAS BEEN PROVIDED BECAUSE THE AMOUNT OF TAX DUE IS CONSIDERED IMMATERIAL BY MANAGEMENT. PART XI, LINE 2D - OTHER ADJUSTMENTS: RELATED ORGANIZATION REVENUES 50,470,412. INTERCOMPANY ELIMINATIONS -20,551,671. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED ORGANIZATION EXPENSES 50,584,723. INTERCOMPANY ELIMINATIONS -17,678,669. 1 CINCINNATI MUSEUM CENTER 1301 WESTERN AVE CINCINNATI OH 45203 311212634 501(C)(3) 1506367 0 UNRESTRICTED GRANT NATIONAL UNDERGROUND RAILROAD FREEDOM CENTER INC 50 EAST FREEDOM WAY CINCINNATI OH 45202 311436217 501(C)(3) 434088 0 UNRESTRICTED GRANT PART I, LINE 2: CONTRIBUTION MADE TO A RELATED PARTY, THEREFORE, THE BOARD IS ABLE TO MONITOR USE OF FUNDS. 0 0 0 0 0 0 0 0 0 ELIZABETH PIERCE CEO 0 284598 0 60000 0 20500 0 12817 0 42785 0 420700 0 0 JILL BERKEMEIER CFO & TREASURER 0 200000 0 50000 0 10000 0 12500 0 2059 0 274559 0 0 SCOTT SCHUSTER PRESIDENT & SECRETARY 0 150362 0 45000 0 50 0 10502 0 41937 0 247851 0 0 PART I, LINE 3 ALL COMPENSATION IS DETERMINED BY A RELATED ORGANIZATION USING THE FOLLOWING: THE BOARD OF TRUSTEES COMPENSATION COMMITTEE, A STANDING COMMITTEE COMPRISED ENTIRELY OF INDEPENDENT TRUSTEES, ANNUALLY REVIEWS THE PRESIDENT/CEO'S PERFORMANCE AND ESTABLISHES COMPENSATION FOR THE CEO AND VICE PRESIDENTS. WRITTEN DOCUMENTATION OF THIS REVIEW IS PRODUCED AND FILED WITH THE DIRECTOR OF HUMAN RESOURCES. THE REVIEW IS BASED ON CMC'S FINANCIAL AND PROGRAMMATIC PERFORMANCE, AND COMPENSATION INCREASES ARE BASED ON MERIT. THE CEO RECOMMENDS THE VICE PRESIDENT'S COMPENSATION, WHICH IS REVIEWED BY THE COMMITTEE AND SET BASED ON THE VICE PRESIDENTS PERFORMANCE AND THE CEO'S RECOMMENDATION. BENCHMARK DATA FOR COMPARABLE POSITIONS IS UTILIZED BY THE COMMITTEE FOR THE CEO AND VICE PRESIDENTS AND INCLUDES TAX RETURNS, PUBLISHED REPORTS AND FORMAL COMPENSATION STUDIES. THE COMMITTEE UTILIZES A COMPREHENSIVE STUDY BY ECONOMIC RESEARCH INSTITUTE COMPARING CMC TO SIMILAR ARTS, CULTURE AND HUMANITIES ORGANIZATIONS NATIONALLY (EXCLUDING NEW YORK, CALIFORNIA, MASSACHUSETTS AND OTHER DISSIMILAR STATES) THAT HAVE SIMILAR BUDGET ORGANIZATIONAL STRUCTURES. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE ORGANIZATION IS CINCINNATI MUSEUM CENTER. FORM 990, PART VI, SECTION A, LINE 7A CINCINNATI MUSEUM CENTER HAS THE POWER TO ELECT OR APPOINT MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B CINCINNATI MUSEUM CENTER MAY AMEND, REPEAL OR RESTATE THE ORGANIZATION'S ARTICLES OF INCORPORATION AND THE CODE OF REGULATIONS. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION PROVIDES A COPY OF FORM 990 TO ALL MEMBERS OF ITS GOVERNING BODY. THE GOVERNING BODY REVIEWS FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS WILL SIGN THE ORGANIZATION'S CONFLICT OF INTEREST POLICY ANNUALLY. TO ENSURE THE FOUNDATION OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES, PERIODIC REVIEWS OF THE CONFLICT OF INTEREST POLICY WILL BE CONDUCTED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS ARE MADE AVAILBLE UPON REQUEST. CINCINNATI MUSEUM CENTER 1301 WESTERN AVE CINCINNATI OH 45203 311212634 MUSEUM OH 501(C)(3) LINE 7 N/A 0 NATIONAL UNDERGROUND RAILROAD FREEDOM CENTER 1301 WESTERN AVE CINCINNATI OH 45203 311436217 MUSEUM OH 501(C)(3) LINE 7 CINCINNATI MUSEUM CENTER 0 END SLAVERY NOW 1301 WESTERN AVE CINCINNATI OH 45203 271448321 EDUCATION OH 501(C)(3) LINE 7 NATIONAL UNDERGROUND RAILROAD FREEDOM CENTER 0 UNION TERMINAL LLC 1301 WESTERN AVE CINCINNATI OH 45203 475120760 RENOVATION, REHAB & PRESERVATION OF UNION TERMINAL OH N/A 0 0 UNION TERMINAL CORPORATION 1301 WESTERN AVE CINCINNATI OH 45203 473882000 RENOVATION, REHAB & PRESERVATION OF UNION TERMINAL OH N/A C 0 MERCURY MUSEUM SERVICES LLC 1301 WESTERN AVE CINCINNATI OH 45203 831520524 RENOVATION, REHAB & PRESERVATION OF UNION TERMINAL OH N/A C 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 1 1 0 0